Joliba Capital fund reaches first close
Joliba Capital fund reaches first close
Joliba Capital Fund I secured commitments of more than €33 million from DFC and Swedfund as part of a rolling first close.
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Joliba Capital, an African private equity firm majority-owned by LBO France, and founded by two African investment professionals – Hamada Touré (managing partner) and Yann Pambou (CEO and managing partner) – has reached the first close of its inaugural fund, Joliba Capital Fund I, at €89 million.
The fund has secured commitments of more than €33 million from DFC and Swedfund as part of a rolling first close.
The fund will principally target investment opportunities across Francophone countries in West and Central Africa to develop a diversified portfolio composed of small and mid-cap regional champions in a wide range of consumer driven sectors, including agribusiness, manufacturing, FMCG, education, healthcare, financial services, and logistics.
“DFC is proud to support Joliba Capital in expanding its investments to small and medium sized businesses in Côte d'Ivoire, Senegal, Cameroon and other Francophone West and Central African countries. DFC’s support will provide vital access to capital in these regions to support small businesses facing barriers to financing,” says Mateo Goldman, acting vice president of DFC’s office of equity, and investment funds.
“We are happy to be part of Joliba’s first fund, which will invest in sectors like financial services, consumer goods, insurance, and education. This gives Swedfund the opportunity to strengthen the private sector and to contribute to socio-economic development via increased decent job opportunities and enhanced gender equality. The investment will also support improved access to goods and services for the underserved,” says Sofia Gedeon, investment director for sustainable enterprises at Swedfund.
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